These blogs comprise of matters pertaining to Income Tax, Sales Tax and Corporate Advisory. Main purpose is to share knowledge and update information from time to time in relation to FBR, SECP and other organizations in order to help professionals and general public.
Taxation on Builders and Developers
A builder or developer has option to be taxed under normal tax regime. However, there is a special arrangement, where builder/ developer can opt for Final Tax Regime, whereby section 100 D and 11th schedule will be applicable. Under this option, following are...
Who is required to file Income Tax Return?
Due date for filing of Tax Return: 30 September 2021 (for individuals and AOP) Following persons are required to file the Income Tax Return (only broad information given below): Every Company Every person (other than company) whose taxable income exceeds the...
Taxation on Property Income
Income from Property is taxable under normal tax structure and deductions are allowed as expenses as per law and with certain terms including repairs and maintenance, insurance, ground rent, , legal charges, interest charges, admin and collection charges etc. Gross...
Point of Sale Integration
Are you Tier 1 Retailer, if so, avoid reduction in input tax, penalty and getting seal of Business premises? If you are Tier 1 Retailer, then you must install POS (Point of Sale Software) and integrate with FBR, in order for monitoring, tracking, reporting or...
MATTERS TO BE COMPLIED WITH AFTER INCORPORATION OF COMPANY
If you have formulated a company and registered with SECP, then make sure you have complied with following matters. Subscription Money for paid up capital needs to be deposited in the bank account within 30 days and receipt of amount to be reported within 45...